Merus N.V. (MRUS) Soars 5.5%: Is Further Upside Left in the Stock?
Merus N.V. MRUS shares rallied 5.5% in the last trading session to close at $22.26. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 13.4% loss over the past four weeks.
The rise in share price is attributable to the company’s progress with its pipeline. Merus plans to initiate a phase 3 study in mid-2024 to evaluate petosemtamab monotherapy in previously treated recurrent or metastatic head and neck squamous cell carcinoma. Currently, the company has no late-stage pipeline candidate.
This company is expected to post quarterly loss of $0.75 per share in its upcoming report, which represents a year-over-year change of -41.5%. Revenues are expected to be $10.96 million, up 66.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Merus N.V., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on MRUS going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Merus N.V. is part of the Zacks Medical - Biomedical and Genetics industry. Genmab A/S Sponsored ADR GMAB, another stock in the same industry, closed the last trading session 0.8% higher at $32.55. GMAB has returned -15% in the past month.
For Genmab A/S Sponsored ADR , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.33. This represents a change of -37.7% from what the company reported a year ago. Genmab A/S Sponsored ADR currently has a Zacks Rank of #4 (Sell).
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